Slide 1: Full Year 2020 Financial Results
High speed/capacity Milan – Genoa railway line, Italy Gerald Desmond Replacement Bridge, USA Forrestfield Airport Link, Australia New Genoa Bridge, Italy Full Year 2020 Financial Results 22 March 2021
Slide 2: Agenda
Agenda Business Update Pietro Salini Chief Executive Officer Financial Update Massimo Ferrari General Manager Corporate and Finance Outlook & Closing Remarks Pietro Salini Chief Executive Officer Q&A 2
Slide 3: Highlights
Highlights Key Facts ▪ Financial Targets exceeded, on track to achieve 2023 Strategic Targets ▪ Completed the acquisition of 66% of Astaldi; timing and procedure for Webuild and Astaldi merger set out ▪ Work on construction sites guaranteed with strictest safety measures 2020 Result and Outlook ▪ Or
Slide 4: 2020 – a year that saw Webuild Group delivering its strategy
2020 – a year that, notwithstanding the pandemic, saw Webuild Group delivering its strategy… A January C June H November New 2027 Bond €250m Acquisition of Condotte shares on Acquisition of 66% of Astaldi Verona-Padua & Milan-Genoa B May Projects J December Salini Impregilo becomes Webuild
Slide 5: …with a prompt response to COVID-19 emergency…
…with a prompt response to COVID-19 emergency… Full Year 2020 Financial Results 5
Slide 6: …and spot-on financial targets
…and spot-on financial targets Construction Backlog Revenues(1) €33.3bn €6.4bn Total backlog: €41.7bn €5.3bn in FY 2019 €29.5bn in FY 2019 ~€33bn €6.2-6.5bn EBITDA margin(1) Net Financial Position 12.8% (€442m) 7.9% in FY 2019 (€631m) in FY 2019 >11% (€0.8-0.6bn) Total Equity Workforce(2) €2.1bn 70,
Slide 7: Our contribution to Sustainable Development Goals
Our contribution to Sustainable Development Goals(1) a sustainable world We contribute improving people’s lives In all regions and sectors(2) Enhancing local economies 24m 82% Local personnel hired 10m people people Europe 3m ≈87m North America people 91% Local purchases People 24m Middle 6m benefit
Slide 8: Webuild climate change ambitions and ESG targets
Webuild climate change ambitions and ESG targets Key Facts Our achievements Carbon intensity(1) Female at Investments in Lost Time Injury Corporate level innovation Frequency Clear ESG 163 140 (%) (€m cumulated) 66 84 (LTIFR)(2) 120 110 8,3 100 36 37 36 7,4 focus areas 77 72 35 35 35 30 46 4,8 2,8 2
Slide 9: Completed the acquisition of 66% of Astaldi; integration on track
Completed the acquisition of 66% of Astaldi; integration on track timing and procedure for the merger already settled Integration Rationale Astaldi at a glance On November 5th Webuild closed a capital increase in Astaldi (€225m), resulting in a controlling shareholding of ~66% South America; 6% The
Slide 10: Continued de-risking: increased revenues from western countries
Continued de-risking: increased revenues incidence from western countries and reduced exposure to top ten projects Revenues by geography FY 2019 FY 2020 28% 25% 23% 22% 18% 14% 14% 11% 10% 11% 9% 7% 3% 4% North America Italy Europe Middle East Asia & Australia Africa LatAm Confirmed our After slowdo
Slide 11: Sizeable backlog, well diversified by activity, geography & risk profile
Sizeable backlog, well diversified by activity, geography & risk profile Key Facts Construction Backlog by geography Construction Backlog by activity South €41.7bn America; 8% +13% Clean Water; 3% North vs FY 2019 America; 11% Total backlog(1), of Other; 11% which €33.3bn Green Buildings; Italy; 37%
Slide 12: Financial Update
Agenda Financial Update Massimo Ferrari General Manager Corporate and Finance 12
Slide 13: FY 2020 Operating Results in line with targets
FY 2020 Operating Results in line with targets Operating results Guidance ▪ Operating revenues (€m) 6,431 5,315 impacted by COVID-19 5,331 ▪ No order cancellation: €6.2-6.5bn slowdown in production 4,766 5,883 expected to be Revenues €5.7-6.0bn (3) absorbed in 2021 (1) (1) ▪ Including €548m FY 2019
Slide 14: FY 2020 Group Net Income
FY 2020 Group Net Income (€m) FY 2019(1) FY 2020(1) Var Net Financial charges FY 2019 FY 2020 Var (€m) EBIT 184 563 379 Bank charges and commissions (41) (57) (16) A Financial income 70 81 11 Bond charges (35) (42) (7) Financial expenses (147) (156) (9) Leasing (7) (6) 0 Subtotal (83) (105) (22) Net
Slide 15: Net debt better than target
Net debt better than target Key Facts Net Financial Position (€m) FY 2019 1H 2020 FY 2020 Total Cash & Other Financial Assets 1,640 1,994 3,116 Net Financial Position reduction ~€1.170m mainly due to the positive Bank Loan and other loans (983) (1,726) (1,845) Of liquidity available at Bond (1,105)
Slide 16: Successfully managed most significant debt maturities up to mid-2022
Successfully managed most significant debt maturities up to mid-2022 Key Facts M/L Corporate Debt – schedule as at December 2020 €m Successful refinanced June 2021 bond Tap bond issued in January 2021 200 maturity proactively managed more than 6 months in 500 550 advance 450 237 250 52 5 56 41 2021
Slide 17: Outlook & Closing Remarks
Agenda Outlook & Closing Remarks Pietro Salini Chief Executive Officer 17
Slide 18: Strategic Drivers 2021-23
Strategic Drivers 2021-23 Guidelines Progress Consolidate presence in Italy ▪ Unblocked €3.6bn of strategic projects • Accelerating work on projects in the order book ▪ New order and best offer in 2021for €2.5bn (highway Pedemontana Lombarda, • Taking advantage of the Group’s greater scale to seize
Slide 19: Strong commercial pipeline, with focus on North America, Europe, Italy and Australia
Strong commercial pipeline, with focus on North America, Europe, Italy and Australia Key Facts Commercial pipeline by geography Core addresable commercial activity 21-23 Awaiting outcome(2) and tenders to be presented Total +22% €125bn Tenders submitted in 2020 37% (vs 2019) notwithstanding Total €2
Slide 20: Targeting development of sustainable infrastructure in Italy…
Targeting development of sustainable infrastructure in Italy… Key Facts Opportunities from relaunch of Infrastructure sector Strategic Infrastructure Projects Road Maintenance ~€94bn Main projects: Needs: Projects to be unblocked, ▪ Brescia-Verona-Padua High Speed/ ▪ Ordinary maintenance: €2.5-3.5bn
Slide 21: …with innovative solutions for environment, people and customers
…with innovative solutions for environment, people and customers Key Goals Innovation as a key enabler to build a more sustainable world for people and clients Minimize Design, Planning Construction Materials Digitization of Safety, Quality & the environmental impact & Development techniques sites E
Slide 22: Cost-saving program to improve operating efficiencies and capture synergies with Astaldi
Cost-saving program to improve operating efficiencies and capture synergies with Astaldi Key Facts Key work streams 1 20+ initiatives launched in 2020 related to personnel Crash & facility management, consulting, global travel Program (expected benefit of €17–20 m in additional EBIT) €120m Corporate
Slide 23: 2021-2023 Financial Trajectory of Core Business
2021-2023 Financial Trajectory of Core Business KPI 2021 2023 Average >1,0(1) Book-to-bill (x) 7.4 8.3 Range 6.5 7.2 CAGR 21-23 7-8% Revenues(2) (€bn) EBITDA Margin % ~8% >8.5% Net Debt 100-130m (€m) (500) (300) Annual reduction (300) (40) (1) Excluding Texas HSR (~$14bn); Full Year 2020 Financial R
Slide 24: We have come a long way…
We have come a long way… Revenue EBITDA €m €m 6,431 821 2,108 310 FY 2011 FY 2020 FY 2011 FY 2020 Cumulated Combined (1) Cumulated Combined (1) €44.7bn €4.2bn Total Equity Direct Employees €m n. 2,085 >29,000 1,263 12,376 FY 2011 FY 2020 FY 2011 FY 2020 ~60bn Cumulated New Orders Full Year 2020 Fina
Slide 25: Appendix
Appendix 25
Slide 26: We build large, complex infrastructure for Sustainable Mobility, Clean Hydro Energy, Clean Water and Green buildings
We build large, complex infrastructure for Sustainable Mobility, Clean Hydro Energy, Clean Water and Green buildings Copenhagen Cityringen – Denmark Tarbela Hydroelectric Plant - Pakistan Expansion of the Panama Canal – Panama Riachuelo environmental restoration system - Argentina Stavros Niarchos F
Slide 27: Global Footprint
Global Footprint ~ 100 ongoing projects ~ 60 offices globally Milan Webuild Cheshire Rome Sondrio Lane Webuild Cossi Genoa Lugano Fisia CSC Countries where the main ongoing projects are located Headquarter Branches Full Year 2020 Financial Results 27
Slide 28: Our history of iconic projects and major acquisitions
Our history of iconic projects and major acquisitions 1906 1929 1911 Girola and Lodigiani create their “Impresit” – Imprese italiane all’estero 1926 Simplon Railway Mignano Dam respective companies is established Line 1936 1956 Pietro Salini starts up his own activity, Impresit, Girola, Lodigiani an
Slide 29: Income Statement
Income Statement Webuild Group Reclassified statement of profit or loss adjusted Financial Statement December 31, 2020 FY 2019 Adjusted FY 2020 Adjusted Joint Joint Condotte ventures ventures Webuild Impairment Total Webuild Impairment out-of-court Total not not Group Venezuela Adjusted Group Venezu
Slide 30: Income Statement
Income Statement Webuild Group Reclassified statement of profit or loss Financial Statement December 31, 2020 (€/000) FY 2019 FY 2020 Revenue Revenue from contracts with customers 4.770.634 4.247.167 Other income 359.327 226.478 Badwill - 548.177 Total revenue and other income 5.129.962 5.021.823 Op
Slide 31: Statement of Financial Position
Statement of Financial Position Webuild Group Reclassified statement of financial position Financial Statement December 31, 2020 December 31 December 31 (€/000) 2019 2020 Non-current assets 1.305.277 1.868.750 Goodwil 76.062 70.020 Non-current assets (liabilities) held for sale 11.976 (5.061) Provis
Slide 32: Net Financial Position
Net Financial Position Webuild Group Net financial indebtedness Financial Statement December 31, 2020 31 dicembre 31 dicembre 2019 2020 Non-current financial assets 378.272 321.951 Current financial assets 241.249 339.003 Cash and cash equivalents 1.020.858 2.455.125 Total cash and cash equivalents
Slide 33: Safe Harbour
Safe Harbour This presentation may contain forward-looking objectives and statements about Webuild’s financial situation, operating results, business activities and expansion strategy. These objectives and statements are based on assumptions that are dependent upon significant risk and uncertainty f
Slide 34: Thank you
Thank you